Turkey’s March industrial production rises 4.7% y/y

By bne IntelliNews May 8, 2015

On a calendar-adjusted basis, Turkey’s industrial production rose 4.7% y/y in March (market forecast: 0.9% y/y), after increasing 0.9% y/y in the previous month, data of the statistics office TUIK showed on May 8.

Durable consumer goods production was up 1.6% y/y, energy output rose 1.5% y/y, capital goods production increased 3.2% and manufacturing production showed a 2.5% y/y rise in the month.

Industrial production increased 2.2% m/m in March, following a 1.8% m/m rise recorded in February on a calendar and seasonally adjusted basis.

On an unadjusted basis, Turkey’s industrial production increased a robust 4.8% y/y in the month (market forecast: 2% y/y) after rising 0.9% y/y in February and contracting 2.2% y/y in January.

The central bank said in April that Q1 data pointed to a relatively weak outlook for economic activity. This slowdown was largely due to the weak external demand, volatility in financial markets and adverse weather conditions, said the bank, adding that economic activity is expected to grow gradually and moderately from the second quarter onwards, downside risks remain important.

Industrial Production by main Industrial Groups (March)    
(%) Calendar Adjusted Seasonally & Calendar Adjusted
  (y/y) (m/m)
Total Industry 4.7 2.2
Intermediate Goods -0.9 1.2
Durable Consumer Goods 3.6 1.6
Non-durable Consumer Goods 7.2 3.6
Energy 2.7 1.5
Capital Goods 15.9 3.2
Source: tuik

Related Articles

China to provide $250mn for new Tajik parliamentary building

China is to provide $250mn for the construction of a new and expensive parliamentary building in Tajikistan, CA-News reported on July 20. Tajikistan is ... more

Creditors of Turk Telekom’s owner Saudi Oger reportedly in talks to sell its 55% stake

Some creditor banks of struggling Saudi construction giant Oger’s Dubai-based unit Oger Telecom are in unofficial talks to sell its 55% stake in Turkey’ largest telecom operator Turk ... more

Ukraine injects another €760mn into nationalised PrivatBank

The Ukrainian authorities have issued domestic government bonds in the amount of UAH22.5bn (€759mn) in exchange for the bank’s shares as part of the additional capitalisation of nationalised ... more